I got into NS but just found out that I do not qualify for any Fin Aid, non whatsoever. This is a 2yr program and the school says that 1) I have reached my lifetime max of fin aid of $46K and 2) I already have an MBA, they cannot help because the school caters to those getting out of HS who are trying to get an initial degree and not for p'ple gettingmore degrees.
I am so disappointed cause I really want to go to NS but I cant pay out of pocket.
Are there any other options that anybody knows about out there?
PS I do not qualufy for scholarships either for the same reasons.
Ok, now I'm confused. It says in the federal student aid guide that you can take out $138,000 total. $46,000 for undergrad loans and $92,000 for graduate degree loans. But if all of your loans were for grad then that would leave you $46,000 left for undergrad, and $46,000 for grad. I was so confused by this that I called my college's financial aid dept and they confirmed it (its a 4 year college). I really think you need to go back to your financial aid officer and discuss this. Also, I was talking to a friend who had maxed out their undergrad financial aid, consolidated it, then they were able to get the $46,000 again as an undergrad becuase their federal loans had been paid off by consolidation.
Good luck!
Dee
Dee:
Thanks to you and everyone else so much for the information. It helped a great deal. I called the school and asked that they review, and sure enough they gave me the wrong info.
Well since it was put here on the www for all to see and comment about I'm surprised that you are surprised. I'm even more surprised that people with advanced degrees, family obligations and no savings wouldn't get their financial lives in order before starting over with an entirely new career. The fact that people can (and would) actually take out over $100K in loans for school blows me away. I'm just not big on debt but whatever floats your boat.
You do realize that public defenders, attorneys with JD's from all sorts of law schools with brilliant minds, sometimes do not make enough money to live the way many of US live as middle-class citizens because of their financial burden from school.
Imagine if you were poor and needed legal defense, and you couldn't get one because no one wants the job - because it doesn't pay six figures.
I'm not a wave-it-in-your-face Christian, but I do believe very strongly in "judge not lest ye be judged" - we don't know the OP's story. Who are we to judge?
I'm still paying off undergrad debt myself. I can afford what I'm doing, but I know plenty of people who think I'm out of my mind because my original loans aren't paid off yet. And I'm taking out twenty grand to pay for school now. But big deal - I'll get it back, and they're some of the lowest interest loans I'll ever get. Plus the hospital is going to pay off the bill. Big deal.
Perhaps the OP has thought this out - but didn't realize the FA bit. That's the OP's problem. All they asked for was advice. That's our only task here - to see if we can help. I don't think we're meant to judge. We weren't asked to cast speculation on and comment about her choices; we've been asked to help.
You do realize that public defenders, attorneys with JD's from all sorts of law schools with brilliant minds, sometimes do not make enough money to live the way many of US live as middle-class citizens because of their financial burden from school.
Imagine if you were poor and needed legal defense, and you couldn't get one because no one wants the job - because it doesn't pay six figures.
I'm not a wave-it-in-your-face Christian, but I do believe very strongly in "judge not lest ye be judged" - we don't know the OP's story. Who are we to judge?
I'm still paying off undergrad debt myself. I can afford what I'm doing, but I know plenty of people who think I'm out of my mind because my original loans aren't paid off yet. And I'm taking out twenty grand to pay for school now. But big deal - I'll get it back, and they're some of the lowest interest loans I'll ever get. Plus the hospital is going to pay off the bill. Big deal.
Perhaps the OP has thought this out - but didn't realize the FA bit. That's the OP's problem. All they asked for was advice. That's our only task here - to see if we can help. I don't think we're meant to judge. We weren't asked to cast speculation on and comment about her choices; we've been asked to help.
No one has mentioned this and maybe you don't have any but you might consider taking money out of a 401K. I think if it's used for school you won't pay the 10% penalty. You would have to pay the interest but maybe it would be tax deductible if used for school (check with an accountant). I know many people say not to do this but if your education will lead you to a better life, whether financially or emotionally, it would be worth it. You will have lost the income for when you retire but you wouldn't have loans to repay or not as many anyway. For what it's worth, my financial planner told me that if I can get a loan for school below 8% or 8.5% to go for it instead of using 401k money because with the interest you take off of your taxes since you use it for school you take about 2% off, so that really means you're only paying 6% or 6.5% - a great rate. Hope this helps. Also, even if you have not really good credit and you can get a co-signer, you can usually get a loan.
I do not know if it would work for your particular circumstance but it's worth a shot. I too was denied for any further financial aid, depending on where I went to school. Since I was changing career paths to nursing, I was able to get a revision/reevaluation completed by my school to reflect that my previous credits had nothing to do with my current plan. That took about 3 minutes and now I qualify but for a limited amount of dollars. Check with the advisor for the program of interest. There is usually a brief form to fill out and that's it.
I'm even more surprised that people with advanced degrees, family obligations and no savings wouldn't get their financial lives in order before starting over with an entirely new career. The fact that people can (and would) actually take out over $100K in loans for school blows me away. I'm just not big on debt but whatever floats your boat.
Normally I would keep going on my merry way, but I can't understand this comment. I am not trying to start a debate or argument (:deadhorse ) but maybe you have been fortunate enough to not HAVE TO take out loans for school. That's great for you, but most people don't have that luxury. I had to take out loans for my 1st BA and now I will have to do it for my BSN.
Does that mean my financial life isn't in order? Yes, I'm in debt (if that's what you define as lack of order). But, if one is determined to finish a goal, you will find a way to do it. If that means taking out loans, so be it. That's what loans are for.
I don't think anyone is "big on debt" , but it is, in most cases, unavoidable and a part of life.
I hope your retalitation was not directed at me. I was the one posting a potential solution to your problem. Trust me, I am all too familiar with taking out loans. As a matter of fact, I am in the same boat as you. I just got my acceptance notification and have to figure out how to live and go to school at the same time. I know there are living loans available too but please see "my" previous posting. The one you were angry about was not from me.
I hope your retalitation was not directed at me. I was the one posting a potential solution to your problem. Trust me, I am all too familiar with taking out loans. As a matter of fact, I am in the same boat as you. I just got my acceptance notification and have to figure out how to live and go to school at the same time. I know there are living loans available too but please see "my" previous posting. The one you were angry about was not from me.
No, I wasn't commenting on your post. I quoted the person I was talking to (JulesA). It's was not meant to come across as an "angry" post. In fact, I regret that it came off that way. I was just trying to tell Jules that loans aren't necessarily a bad thing, if it's your means to an end. Obviously, a *mound* of debt can work against you, but once your done with school , you can start paying it back.
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RwanRN2b
73 Posts
Dee:
Thanks to you and everyone else so much for the information. It helped a great deal. I called the school and asked that they review, and sure enough they gave me the wrong info.